Net Income per Unit

3 Months Ended

Mar. 31, 2014

Net Income per Unit [Abstract]

Net Income per Unit

6. Net Income per Unit

Basic net income per unit is derived by reducing net income for the 1% general partnership interest and dividing the remaining 99% by the basic weighted average number of units outstanding for each period. Diluted net income per unit is derived by reducing net income for the 1% general partnership interest and dividing the remaining 99% by the total of the diluted weighted average number of units outstanding for each period.

	Three Months Ended March 31,
	2014		2013
	(in thousands, except per unit amounts)
Net income attributable to AllianceBernstein Unitholders	$	116,725	$	114,516
Weighted average units outstanding – basic		268,459		277,786
Dilutive effect of compensatory options to buy Holding Units		1,077		937
Weighted average units outstanding – diluted		269,536		278,723
Basic net income per AllianceBernstein Unit	$	0.43	$	0.41
Diluted net income per AllianceBernstein Unit	$	0.43	$	0.41

As of March 31, 2014 and 2013, we excluded 2,828,033 and 3,161,304 options, respectively, from the diluted net income per unit computation due to their anti-dilutive effect.

As discussed in Note 3, on July 1, 2013, management retired all unallocated Holding Units in AllianceBernstein’s consolidated rabbi trust, and, since that time, has continued to retire units as we have purchased Holding Units on the open market or from employees to allow them to fulfill statutory tax withholding requirements at the time of distribution of long-term incentive compensation awards.